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News:
Finance
Posted: February 12, 2009
Peter Vadala 2009
Name: Peter Vadala
Title: President, Mass. Board of Real Estate Appraisers
Company: Vadala Real Estate Appraisers
Location: 9 Dr. Osman Rd., Suite D, Gloucester, MA 01931
Birthplace and year: Gloucester, MA 1950
Family: Wife - Denise, Sons - Mark, Josh and Daniel
College: Bridgewater State College - BA History; Northeastern University MBA in progress
First job outside of appraisal: Quality Assurance Inspector
First job in real estate or allied field: Residence Fee Appraiser for Appraisals, Inc.
What do your do now and what are you planning for the future? Deal with HVCC which takes effect May 1st. Also the appraisal management code in which banks use a third party to select appraisers, also there are legislative issues to be passed on licensing and misrepresentation of values.
Hobbies: Run, snow shoeing, anything on presidential history
Favorite book: "Team of Rivals" by Doris Kearns Goodwin
Person you admire most (outside of family): Harry Truman
Keys to success: Service to clients
If you had to choose another vocation what would it be? History Professor
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Quick Hits
Columns and Thought Leadership
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
